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Kerala-based startups witness 40% surge in seed-stage funding in 2023: Report

Livemint · 1y

According to the Tracxn Geo Annual Report, Kerala-based startups experienced a significant increase in seed-stage funding in 2023. Investments in this stage reached $26.2 million, representing a 40% surge compared to 2022. The most active investors in seed-stage rounds were Avaana Capital Advisors, 9Unicorns, and Huddle. However, early-stage funding witnessed a drop of 32%, totaling $7 million in 2023. Food & Agriculture Tech startups saw a remarkable funding increase of 266%, while the ed-tech sector faced a decline. Kochi emerged as the leader in funding, followed by Alappuzha and Thiruvananthapuram. The Kerala startup ecosystem ranks 11th in India with $354 million in total funding.